Estate inventory

The estate inventory proceedings should start within three months of the death and then you have one month to complete the proceedings before handing them in to the tax authorities. The estate inventory should contain information on the beneficiaries (even spouse/common-law-partners who are not beneficiaries) assets and debts, as well as any papers important to the investigation such as will, pre-nuptial agreement and deeds of gifts. Legal heirs, beneficiaries of the will and any other claimants should be called to the estate inventory proceedings.

Respite for the estate inventory proceedings may be given by the tax authorities on application; this should be done before three months after the date of the death.

Estate inventory need not be carried out if the assets only cover the funeral and other related costs. Instead you need to make an estate registration to the local authorities. If the estate shows a shortage of funds it is important that payments are made in the correct order so that no creditors are favoured at another creditors expense. Defer the payment of bills if you are uncertain of the estate’s economy.

Personal property is an asset belonging to the estate and as such must be valued. This is why the estate inventory proceedings are often held in the home of the deceased. Please note that this is also the case if an estate registration is made.

Please observe that the above points are only examples.

More information is to be found on the tax authority’s home pages.